Impinj Inc (PI)
Solvency ratios
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.68 | 0.78 | 0.77 | 0.73 | 0.75 | 0.80 | 0.85 | 0.92 | 0.88 | 0.88 | 0.00 | 0.00 | 0.00 | 0.26 | 0.27 | 0.25 | 0.24 | 0.24 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.77 | 0.89 | 0.89 | 0.88 | 0.91 | 0.95 | 0.99 | 1.04 | 1.02 | 1.04 | 0.00 | 0.00 | 0.00 | 0.33 | 0.33 | 0.31 | 0.29 | 0.29 |
| Debt-to-equity ratio | 0.00 | 0.00 | 3.29 | 8.26 | 8.09 | 7.64 | 10.54 | 17.97 | 135.78 | — | — | — | 0.00 | 0.00 | 0.00 | 0.50 | 0.49 | 0.45 | 0.40 | 0.41 |
| Financial leverage ratio | 3.50 | 3.81 | 4.82 | 10.53 | 10.45 | 10.42 | 14.00 | 22.43 | 159.04 | — | — | — | 2.36 | 2.38 | 2.48 | 1.90 | 1.83 | 1.82 | 1.70 | 1.72 |
The solvency ratios for Impinj Inc show fluctuations over the recent quarters. The debt-to-assets ratio has been relatively low in the most recent periods, indicating that the company has been relying less on debt to finance its assets. However, there was a noticeable increase from March 2024 to December 2023, potentially signaling increased borrowing during that period.
The debt-to-capital and debt-to-equity ratios have also exhibited variability. Both ratios increased significantly from March 2024 to September 2022, reaching relatively high levels, especially the debt-to-equity ratio. These spikes suggest a higher proportion of debt in the company's capital structure during those quarters.
The financial leverage ratio reveals the extent to which Impinj Inc is using debt to fund its operations. The ratio experienced substantial fluctuations, with peaks observed in September 2022 and December 2021. These high ratios indicate a significant reliance on debt to support the company's activities during those periods.
Overall, a closer look at the solvency ratios indicates varying levels of leverage and debt utilization by Impinj Inc, highlighting the importance of monitoring these metrics for assessing the company's financial health and risk exposure.
Coverage ratios
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 6.90 | 3.53 | -0.25 | -8.01 | -4.92 | -2.08 | -2.69 | -3.90 | -8.40 | -12.67 | -14.87 | -19.04 | -14.78 | -11.69 | -11.30 | -8.58 | -8.61 | -8.27 | -6.49 | -11.70 |
The interest coverage ratio for Impinj Inc has shown fluctuating trends over the past several quarters. The ratio improved significantly from negative figures in the last quarters of 2023 to positive territory in 2024. In the most recent quarter of September 30, 2024, the interest coverage ratio stood at a healthy 6.90, indicating that the company's operating income was nearly 7 times the amount of interest expense, reflecting a strong ability to meet interest obligations.
It is important to note that the company experienced severe negative interest coverage ratios in late 2022 and early 2023. However, there has been a notable turnaround since then, with improvements in each subsequent quarter. The negative interest coverage ratios in the past could have raised concerns about the company's ability to cover its interest payments with its operating income.
Overall, the recent positive trend in interest coverage is a positive sign for Impinj Inc, indicating improved financial health and the ability to service its debt obligations. Maintaining or improving this ratio in the future will be crucial for the company's financial stability and creditor confidence.